The tricky business of celebrity divorce

Russell Crowe and his Danielle Spencer ... high profile individuals strive to keep their private lives, and bank accounts, out of the spotlight during divorce settlements.
Photo: AFP

by
Claire Stewart

When time is called on any celebrity marriage, as it was for Russell Crowe and Danielle Spencer, it is assumed divorce proceedings will be salacious.

The opposite is usually true, as high profile individuals strive to keep their private lives, and bank accounts, out of the spotlight.

Lander & Rogers family law specialist Mark Parker said while Family Court rules about confidentiality keep details from being reported, most high-profile couples will try to settle out of court to guarantee privacy.

Mr Parker said he would be “very surprised" if there was no pre-nuptial agreement between Crowe and Spencer governing property and assets in Australia, and possibly a separate contract dealing with assets in America. “All things being equal, financial agreements are binding here," Mr Parker said. “There is some preparedness by courts to look more closely at them, but prima facie they are binding."

On Monday, Fairfax Media reported an agreement purportedly giving Spencer a minimum of $15 million, and putting $3 million in to trust for each of their two children.

Beyond that, the Family Court has ultimate discretion to split marital assets, so there is no set formula to determine what each will receive.

But Mr Parker said the first step was to identify the location and worth of the assets.

In Australia, the assets include a $10 million family home in Rose Bay, a Coffs Harbour property, NSW farmland and various smaller places in Sydney, including one in Randwick, in the eastern suburbs.

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The couple also own the entire top floor in Sydney’s Woolloomooloo Wharf complex, originally designed as four separate apartments and bought for about $14 million almost 10 years ago.

Crowe also has a stake in the South Sydney Rabbitohs rugby league club, bought with Peter Holmes a Court for about $3.5 million.

Contributions (financial or otherwise) of each party during co-habitation are also measured, taking into account whether one partner has a particular talent or skill that resulted in unusual contributions.

“Whether or not the level of his income will come into play, I don’t know, but you could imagine a case being mounted that it certainly should," Mr Parker said.

Crowe has produced two films, directed three and acted in 47, 15 of which came after he married Spencer. He was paid $US15 million for his role in Cinderella Man and $US20 million each for Master and Commander and Robin Hood.

It is understood Sydney family law specialists Swaab Attorneys are involved in the matter.